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Semtech's (SMTC) LoRa Chosen by Vutility for Energy Monitoring

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Semtech Corporation’s (SMTC - Free Report) LoRa solutions was selected by Vutility, a leading provider of energy monitoring solutions.

The company’s LoRa devices and LoRaWAN standard have been integrated into Vutility’s cloud-native submetering solution, HotDrop.

With the help of LoRa technology, HotDrop offers real-time circuit-level energy monitoring of a facility while saving electricity costs.

Reportedly, cost incurred for using HotDrop was 90% lower compared to other metering and monitoring devices in the market. This shows the reliability and efficiency of LoRa solutions.

The recent move has added strength to Semtech’s client base, which is expected to contribute well to the company’s top-line growth in the near term.

Growing LoRa Partnerships

Semtech has been entering into collaborations with several companies owing to its cost-effective LoRa technology, which is suitable for various applications. The latest move is a step forward in this direction.

Apart from the recent collaboration, Semtech joined forces with Australia-based company, Smart Paddock, wherein the latter incorporated Semtech’s LoRa devices and LoRaWAN standard into its Bluebell smart GPS ear tag for monitoring livestock locations in real time and analyzing cattle’s behavioural data to solve livestock management issues.

Semtech also partnered with ICT International, wherein the latter has integrated Semtech’s LoRa devices and LoRaWAN standard into its water quality monitoring systems for aquaculture.

Additionally, the company announced its collaboration with Spain-based Arson Metering, wherein the latter uses Semtech’s LoRa devices and LoRaWAN standard for detecting harmful levels of methane in gas.

Further, the company’s LoRa devices and LoRaWAN standard are also used by Elvexys for delivering real-time data to Oiken’s supervision control room in case of power grid failure.

LoRa Portfolio: Key Strength

Semtech’s increasing customer base is attributed to its strong efforts toward bolstering the LoRa technology by introducing advanced solutions.

Recently, the company introduced software updates for LoRa integrated circuits and gateways to increase network capacity and robust interference.

Additionally, it introduced the LoRa Developer Portal in order to help developers quickly develop IoT devices connected with the LoRaWAN standard.

Apart from this, it expanded the LoRa Core portfolio by adding a new solution, LoRa Corecell Reference Design, for full duplex gateway applications in the U.S. 902-928MHz ISM band. The new product enables LoRaWAN gateways to simultaneously receive and transmit data.

These initiatives are aiding SMTC to penetrate the growing LoRa and LoRaWAN devices market, which is expected to hit $6.2 billion by 2026, witnessing a CAGR of 36.5% between 2021 and 2026, per an Industry ARC report.

Zacks Rank & Other Stocks to Consider

Currently, Semtech carries a Zacks Rank #1 (Strong Buy).

Investors interested in the broader technology sector can also consider stocks like Advanced Micro Devices (AMD - Free Report) , Arrow Electronics (ARW - Free Report) and Analog Devices (ADI - Free Report) . While Advanced Micro Devices sports a Zacks Rank #1, Arrow Electronics and Analog Devices carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Advanced Micro Devices has gained 55.8% in the past year. The long-term earnings growth rate for AMD is currently projected at 29.1%.

Arrow Electronics has gained 15.2% in the past year. ARW’s long-term earnings growth rate is currently projected at 3.1%.

Analog Devices has gained 4.7% in the past year. The long-term earnings growth rate for ADI is currently projected at 12.3%.

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